Shore Capital Partners, a private equity firm focused on microcap investments, has closed its inaugural Industrial fund, Shore Capital Industrial Partners Fund I, and its fifth healthcare fund, Shore Capital Healthcare Partners Fund V, with a combined $643m in capital commitments.
Shore Capital Partners (Shore), a private equity firm focused on microcap investments, has closed its inaugural Industrial fund, Shore Capital Industrial Partners Fund I (IND Fund I), and its fifth healthcare fund, Shore Capital Healthcare Partners Fund V (HC Fund V), with a combined $643m in capital commitments.
Shore now has over $6 billion assets under management.
IND Fund I is led by Shore Founder and Managing Partner Justin Ishbia and Partners and Co-Heads of Industrials John Sznewajs and Dan Spradling. Expanding the firm’s thesis-driven microcap investment strategy into the industrials sector, the team will primarily focus on investing in aerospace and defence, building and facility services, transportation and logistics, environmental services, manufactured products/services, and industrial technology companies that have between $5m and $100m in revenue.
IND Fund I surpassed its original target of $150 million and was substantially oversubscribed.
HC Fund V is also led by Ishbia, along with Shore Founding Partners John Hennegan, Ryan Kelley and Mike Cooper, and Partners Don Pierce and Chris Mioton. HC Fund V will invest in microcap healthcare businesses and partner with companies across a variety of healthcare subsectors that have between $5m and $200m in revenue. HC Fund V also surpassed its original target of $350m and was substantially oversubscribed.
Commitments to both IND Fund I and HC Fund V came from the firm’s existing investors and select new limited partners, comprising university endowments, financial institutions, fund-of-funds and family offices. The partners of Shore have also committed capital to both funds.
Kirkland & Ellis LLP served as a legal adviser to Shore for the fundraising efforts. Shore did not use a placement agent.
